I have just examined my 4350 Jigsaw.
The slot that accepts the blade is always set fore & aft - it does not rotate.
A Locking collar rotates against a strong spring and exposes the full slot - when the spring's released the collar closes on the blade.
You can see it in action here...
https://www.youtube.com/watch?v=SBrXq_BcDLs
Good Luck...
March 2016
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